Wipro has been banned from World Bank contracts after it was found that Wipro tried to bribe employees by offerring shares in return for contracts.
Wipro’s revenue from WB is about $1 million, but more than revenue impact, it just brings bad press to Wipro — something that no one wants – especially in the recent light of the Satyam scandal. Wipro’s stock fell by 10% on the news.
via BS
